Daily Bulletin

Men's Weekly

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World leading Aussie sun safe clothing brand, SParms, sponsors PGA Legends Tour

  • Written by Tess Sanders Lazarus

SParms signs historic agreement with the PGA of Australia to take on the naming rights sponsorship of the PGA Legends Tour for two years.

With more and more people picking up golf clubs over the last 18 months to take advantage of outdoor activities as one of the few sports allowed under lockdown – golf is enjoying a global boom.

We are absolutely delighted to announce our new naming rights sponsorship of the PGA Legends Tour, Mimi Lee said.

Golf has always been part of our DNA at SParms and it is great to see so many people participating in the game whether socially or professionally. While the pandemic has been tough for many parts of society, it has certainly helped more people to connect with golf.

This also means there are more people out about on courses exposed to the sun. Our new partnership will enable SParms to assist in keeping players safe and also share important sun safe messaging across the game and the broader community.”

Mimi Lee is the founding director of SParms (Sun Protection Arm Sleeves), which is the number one brand in sun protection sleeves on the globe, especially in the golfing space – with more than 300 professional athletes wearing their products daily. Their products are sold and worn the world over and are trusted by many athletes to protect them against the sun’s harsh rays. This year, SParms celebrates 11 years of operation.

We are always looking for ways to support the sport and share important sun safe messaging. We sponsor many players both within Australia and overseas as well as the Ladies Professional Golf Association (LPGA) - an American organisation for female golfers. In fact, we have been supporting women’s golf for over 10 years and over the past few years, we have been named the ‘official sun sleeve’ on the LPGA tour,” Lee added.

LPGA is the most prominent women's golf tour in the world. The best female golfers play on this tour. Nearly 50 percent of this tour wear SParms as their sun protection of choice.

Partnering with the PGA of Australia is another key way we can support the sport and people’s health and wellbeing.”

We are excited to work with SParms through our Legends Tour and proud to partner with an Australian owned company that promotes sun safety on and off the golf course,” PGA of Australia, commercial director, Michael McDonald said.

About two in every three Australians will be diagnosed with some form of skin cancer before the age of 70, and sun protection for golfers is something we are keen to lend our voice to with SParms by our side as a leader in the sun protection sleeves market.”

The SParms PGA Legends Tour, a national tour of pro-am tournaments, is played by PGA Professionals over the age of 50 and boasts household names like Peter Senior, Rodger Davis and Ian Baker-Finch.

Amateurs play alongside PGA Legends Tour Professionals learning from their vast experience and sharing in stories about life as a Touring Professional.
The Legends Tour is played across Australia, New Zealand and the South Pacific, with more than 60 tournaments played each year. The tour is currently underway in Queensland.

Mimi Lee is a powerhouse businessperson with a history and qualifications in business, law and accounting. Her passion for building brands and positively impacting the lives of people across the planet has also lead to her founding and directing luxury retreating and wellness centre, Retreat Wellness, as well as leading elite golf academy, Ankgolf International Golf Academy.

www.sparms.com.au

Sole Trader Versus Partnership: Which Should You Choose?

  • Written by NewsServices.com

In Australia, there are a few main business structures businesses can register to operate legally in the country. The two most common structures are sole trader and partnership. These structures accommodate for varying growth strategies as well as different business operations. They also have varied tax advantages, liabilities and government incentives.

It is thus important to know the basics of the two and their differences before choosing one to commit your business to.

Sole trader


A sole trader is a simple form of business structure in which one person is legally responsible for all aspects of the business. This includes debts, losses, profits as well as day to day business decisions.

Sole traders can still hire people to help run their business, however there are obligations they must comply with should they do so. For example, workers’ compensation insurance and superannuation contributions. Sole traders will also need to choose whether they pay super to themselves (versus having an employer automatically pay superannuation).

Key characteristics:

  • * One person has full control over business assets and decisions
  • * One person has unlimited liability and their personal assets are at risk if things if the business go wrong
  • * Tax returns can be lodged using an individual tax file number (TFN)
  • * Requires a financial record of five years
  • * Doesn’t require a separate business bank account (although recommended to make it easier to track business finances)
  • * Business profits or losses cannot be split between family members
  • * Is generally simple to set up and operate.

Due to its key characteristics, a sole trader business structure is ideal for individuals who want to be their own boss and dictate the direction of their business. A sole trader has essentially unlimited amounts of freedom when it comes to their business goals and operations. However, sole traders will need to be wary of the risks that come with running a business by themselves.


Partnerships


A partnership is a business structure which involves two or more people operating the business as co-owners. Partners in a partnership share their income and act on behalf of each other when it comes to their internal and external business operations.

There are three different types of partnerships:
  • * General partnership (GP): where all partners are equally responsible for the management of the business and they each have unlimited liability for the debts and obligations the business may incur
  • * Limited partnership (LP): where the extent to which partners can influence the business are limited to the amount of money they contributed to the partnership. Limited partners are usually passive investors while general partners are hands-on with the business
  • * Incorporated limited partnership (ILP): where partners in an ILP can have limited liability for the debts of their business. In an ILP, there must be at least one general partner with unlimited liability.

A partnership is ideal for individuals who may have potential investors, or have a group looking to build the same business. Due to their ability to share responsibilities as well as profits, partnerships are more complicated than sole traders to set up, however may be easier to operate as a business.

Which business structure should you choose?


Sole traders and partnerships are two of the most common business structures. They have their own advantages and disadvantages, and thus it is important to learn the basics about them and how one may be more suitable for you than the other. Speak with an accountant for more advice on which business structure you should choose.

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